GOLDEN, Colo., Jan. 27 /PRNewswire-FirstCall/ -- HealtheTech, Inc. , a Colorado-based company that develops and markets technologically advanced and proprietary handheld medical and commercial devices and software for the measurement of metabolism and nutrition monitoring, announced today that it has resolved its legal dispute with Microlife Corporation.
Microlife Corporation, through its subsidiary corporation Malacca International, filed suit against HealtheTech in December 2003. In 2004, HealtheTech filed its counterclaims and the companies engaged in legal discovery. On January 26, 2005 the parties agreed to end the 13-month litigation by dropping all claims against one another and filing an agreement with the court dismissing the case with prejudice.
HealtheTech also announced a new distribution agreement with Microlife as HealtheTech's exclusive distributor for its products in several Asian countries.
"We are pleased to have concluded this litigation and are looking forward to our new distribution relationship with Microlife in the Asian marketplace," said James Dennis, HealtheTech's CEO and Chairman of the Board. "Microlife will now be our exclusive distributor for our metabolic measurement devices and related products in Hong Kong, China, Taiwan, Japan, Korea, Malaysia, Singapore, Philippines, Thailand, Vietnam and Indonesia," added Dennis.
About HealtheTech, Inc.
HealtheTech, Inc. headquartered in Golden, CO., develops and markets technologically advanced and proprietary handheld medical devices and software for the measurement of resting metabolic rate and monitoring of nutrition. HealtheTech's breakthrough products assist healthcare and wellness professionals in the areas of weight management, fitness, health and medical nutrition therapy, to provide cost-effective and personalized nutrition monitoring and weight management tools. HealtheTech's product line includes hardware and software that allows consumers to monitor their health and nutrition simply and easily. The company's common stock is traded on the Pink Sheets under the symbol "HETC." For more information, please visit http://www.healthetech.com/.
This release includes 'forward-looking' statements within the meaning of applicable securities laws. All statements included herein, other than statements of historical fact, may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward- looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the risk factors contained in the Company's 2003 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 29, 2004. All forward-looking statements are expressly qualified in their entirety by such factors.
CONTACT: Allison Snyder, Public Relations of HealtheTech, Inc.,+1-303-526-5085, ext. 398, firstname.lastname@example.org